Dive Summary:
- Retail sales in European countries which utilize the euro fell collectively at the beginning of 2013.
- According to Eurostat, retail sales for February were down 0.3%, or 1.4% for 2013 and consumer spending is not expected to support growth for some time.
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Despite the gloomy figures, economists had expected a ‘slightly steeper’ reduction in sales for the region.
From the Article:
"February's month-on-month fall partly reversed a rise of 0.9% in January. Sales have been falling in annualized terms for 18 consecutive months, a Eurostat spokesman said, although February's drop was the least severe since last August."...
